AXA Buys 8% Stake in Africa Internet Group For EUR75 Million
February 08 2016 - 4:14AM
Dow Jones News
By Inti Landauro
PARIS--French insurance company AXA SA (CS.FR) bought an 8%
stake in Africa Internet Group for 75 million euros ($83.7 million)
to gain a foothold in the African insurance market.
As part of the deal, the Lagos-based company will sell AXA
insurance products on its websites, the French company said in a
statement.
AXA foresees business opportunities in Africa where an emerging
middle class is fast developing and is underserved by insurance
companies.
-Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 08, 2016 03:59 ET (08:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Axa (EU:CS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Axa (EU:CS)
Historical Stock Chart
From Apr 2023 to Apr 2024